It provided us with valuable insights into STRs as we considered whether this was a real estate investment strategy we wanted to pursue.

Thank you so much on the wonderful suggestions and valuable inputs! 

They ended up selling at a loss and learned a valuable lesson the hard way.If you wouldn't feel comfortable living in the area, then why invest there?

Everyone in your phone, linkedin, FB, IG, any other databases-school-religious-frat-clubs-sports-high school-college-old jobs-current job. 

If you have commercial experience and are an excellent asset manager (managing the property manager, driving revenue, reducing expenses,  managing GCs)You wont just provide value to a sponsorYou will be highly sought-after after by sponsorship groups.The ones worth their salt know how incredibly valuable a strong asset manager is (and how much work it takes)So if you can bring that skillset, I have a feeling it won't take long for you to find a sponsorship team. 

Utilize Off-Market DealsOff-market deals are valuable because there’s less competition and potentially better terms: Direct Mail Campaigns: Send targeted mail to owners of distressed, vacant, or inherited properties.

These agents have access to a large inventory of bank-owned properties and can provide valuable insights into the local market.If you follow these steps, you'll be well on your way to successfully fixing and flipping REO properties.

In addition to that, here are a few pieces of advice that might help you on your journey:Wholesaling as a Launchpad: Wholesaling can be a great way to generate capital and gain valuable experience in the market without the need for significant upfront investment.

Great to hear that you’re focusing on small multifamily properties as a starting point; they can offer great cash flow and help you gain valuable experience as you scale into larger investments.

Also, networking with local investors or attending meetups/conferences in Portland could provide valuable insights and accountability as you move forward.